SANATOGA PA – Now that Lower Pottsgrove commissioners have agreed they will spend more money next year on pension plans for its police officers and non-uniformed employees, it will be faced Monday (Oct. 2, 2017) with the task of deciding how to invest those funds for the best possible return.
Review of a draft investment policy for the plans is one of the items scheduled on the agenda of the board’s Monday night meeting at 7 p.m. in the municipal building, 2199 Buchert Rd. The meeting is free to attend and open to the public. Parking is available in the surrounding lot. A copy of the agenda is available for download from the township website, here.
Commissioners during their Sept. 21 meeting, on the advice of actuary Joe Duda, to increase the township’s payments into both retirement pensions by a combined total of about $53,000. Township pension obligations have “trickled up” to ensure the plans have enough money to meet immediate and foreseeable payouts to retirees, Duda told board members.
It could not be immediately determined how the draft investment policy would affect, if at all, current investment procedures or strategies.
Also Monday, according to the agenda, the board is scheduled to:
- Discuss whether to express an opinion to the Pennsylvania House of Representatives on proposed legislation, House Bill 1620, that threatens to strip municipalities of some regulatory powers regarding small towers, such as those used for cell phone antennas. Township Solicitor Charles Garner, during the Sept. 21 meeting, was asked to supply details on the bill and its potential effects if passed. An increasing number of municipal boards have opposed the law, Garner noted.
- Hear reports from its police chief, emergency management coordinator, fire marshal, Highway Department, Council of Governments representative, engineer, treasurer, solicitor, Parks and Recreation Board, the Pottstown Metropolitan Regional Planning Commission, and the Township Authority.
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